This is yet another factor in today's gas and oil market... but this one would have a lesser impact if we would have our drilling bans gone and our oil flowing more

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Can you explain to me why our oil companies that have worked out oil contracts with Iraq to drill their oil easily out of the sand would put out the money to drill in the continental shelf, down 6 miles in to the earth, to retrieve our oil? The cost of such could be 10 fold of what the cost to bring up oil out of Iraq?

WHY would they choose to spend a TON of extra money to extract this oil at a time when they have the second largest oil reserve in the world, at their fingertips?

Also Dave, is Iraq part of OPEC? Will they tell our oil companies to follow opec and reduce the oil they are drilling or can our oil companies that have these iraqi leases decide to pump more oil than they had planned to combat opec's cuts?

And another question....don't you think our oil companies over in Iraq would just go along with OPEC because this would MAKE THEM MORE PROFITABLE, having the oil prices rise? These are private companies that do not answer to us, but answer to share holders and profitability?

And one last question, what good would drilling in the gulf do if the companies that get the leases are from foreign oil companies such as a Dubai oil firm?

does the united arab emirates then follow the trend of OPEC even if they acquired a lease to dril on our land?

Also, since the president's plan is to bail out fmae/fmac with BORROWED MONEY from china or saudi arabia...isn't that going to DEVALUE THE DOLLAR, which will make oil and gas prices go thru the roof again, regardless of the oil being reduced by Opec, so a DOUBLE WHAMMY is what we will be hit with, in the rise of the price of oil?

I;m trying to figure out what kind of Heating Oil plan to work out....should i prebuy my oil NOW for the whole winter, or pay as i go and not put all the money upfront for such, right now? if i buy it right now, it is still 40% higher than it was last year at this time even with all the drops oil has taken the last few weeks..

gees, we own our home outright, but i still may lose it, just to pay to heat it.....might as well, board it up and move in with my parents....

If any of you gave any reguard to the true situation this country is in...you would drop the oil b/s and look into the fact that we are in debt up to our eyeballs....to many countries.

o you didnt realize this was not just money we owe ourselves?

what about the cost of drilling...if us oil companies need new places to drill why are they using old permits to drill? What percentage of the current permits have oil companies used? Why should they be issued new permits when they havent used the ones they have gotten?

oil companies are making record profits with tax breaks....lol...i assure you they are stealing more than welfare mothers.

Also, since the president's plan is to bail out fmae/fmac with BORROWED MONEY from china or saudi arabia...isn't that going to DEVALUE THE DOLLAR, which will make oil and gas prices go thru the roof again, regardless of the oil being reduced by Opec, so a DOUBLE WHAMMY is what we will be hit with, in the rise of the price of oil?

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You think I actually support the bailout? You think I supported it when it was government subsidized in the first place? You think I support these 2 "companies" having outstanding loans of aprox 6Trillion of money that is not theirs?

Can you explain to me why our oil companies that have worked out oil contracts with Iraq to drill their oil easily out of the sand would put out the money to drill in the continental shelf, down 6 miles in to the earth, to retrieve our oil? The cost of such could be 10 fold of what the cost to bring up oil out of Iraq?

WHY would they choose to spend a TON of extra money to extract this oil at a time when they have the second largest oil reserve in the world, at their fingertips?

Also Dave, is Iraq part of OPEC? Will they tell our oil companies to follow opec and reduce the oil they are drilling or can our oil companies that have these iraqi leases decide to pump more oil than they had planned to combat opec's cuts?

And another question....don't you think our oil companies over in Iraq would just go along with OPEC because this would MAKE THEM MORE PROFITABLE, having the oil prices rise? These are private companies that do not answer to us, but answer to share holders and profitability?

And one last question, what good would drilling in the gulf do if the companies that get the leases are from foreign oil companies such as a Dubai oil firm?

does the united arab emirates then follow the trend of OPEC even if they acquired a lease to dril on our land?

This whole "global oil" shennanigans is confusing...????

care

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Why would they do it? Simple.. .it IS profitable... it is another source

I have to see if Iraq has or has not re-joined OPEC... I am uncertain of this

It is not a matter of the oil companies "going along with OPEC"... neither controls the other... 2 aspects, though it is in the same business

Some that get the leases COULD indeed be foreign companies.. but not agents of OPEC or necessarily agents of the government of their home country... but the States would be in charge of the leases for drilling off their shores or on their state lands

The whole thing IS confusing.. there are a TON of details... a TON of influences...

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